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[+] If you owe money ... - Dan Zook/NY (3 replies)
6/8/2011 10:42:51 AM (3179 views)

[+] Essex South ROD Robo Rejection Letter - Leigh Attridge/MA (8 replies)
6/7/2011 1:24:07 PM (4003 views)

[+] Urban Settlement - Catherine Jackson/NC (3 replies)
6/7/2011 7:29:16 AM (3036 views)

[+] Bank of America Gets Pad Locked After Homeowner Forecloses On It - Edward Huguenin/SC (5 replies)
6/5/2011 2:22:12 AM (4085 views)

[+] FOX & SPADER A/K/A FS ENTERPRISES A/K/A RISK MANAGEMENT SOLUTIONS - Paul /FL (2 replies)
6/4/2011 8:15:00 PM (3283 views)




[+] 7 years ??? - monica froese/ME (2 replies)
6/3/2011 7:18:48 PM (3211 views)

Thanks Rob at Watchdog - Nils Nelson/ME
6/2/2011 4:46:51 PM (2625 views)

[-] I don't get it - Nils Nelson/ME (1 reply)
6/2/2011 4:16:10 PM (3258 views)
Re: I don't get it - William Pattison /CA
6/6/2011 11:20:31 PM (3600 views)

These "vendor firms" are a study in how a domestic market pushes back against off-shoring competition, as well as an interesting experiment in modern digital communcation.

I've encountered many problems with them:

1.  Contradictory terms in their service contracts that nobody seems able to fix (the send them out through low level managers who have no authority to modify or negotiate the contract).

2.  Their fixed pricing is too high to compete with $6 in India, but too low to pay a reasonable rate for what they expect of the abstractor, often not paying for county copy costs and asking for 50-year searches for pennies on the dollar.

3.  Many do not understand the distinction between an independent contractor, an employee and ordering a set report product from another business, including the copyright issues that can come with each of those different classifications.

4.  Some of them have taken the same vendor contract and reused it with the company name changed.   The original had spelling and grammar errors, not to mention poorly written terms that are either unenforcable, outside the bounds of good standards and practices for our industry, or simply unintelligible as to their intent.  Some of the provisions put a burden on the abstractor that is harsh;   no payment without a pile of checks with no counter-checks in place for the abstractor's peace of mind.

5.  These contracts create a lowest common denominator for service.  Added bonus materials that I'll put into any report for a client at no added cost in time or money would be omitted from such vendor packages due to the liability in confusion that we've often run into with their sometimes poorly educated staff.  Too much hassle and headache to deal with this sort of drama.

 

I recommend rejecting these vendor proposals, raising  your rates, pounding the pavement harder and over a wider range of geographic territoriy and product offerings and referring people to other abstractors from SOT when a request falls outside your ability.  It's what we do and we are not bound by weird non-compete, non-disclose terms or nonpaying vendor firms. 

Capitalism is marked by competion, not cooperation.

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[+] Comment on "It Sometimes Pays to Check a Map" - Source of Title/OH (2 replies)
6/2/2011 1:07:35 PM (2954 views)

[+] Accurate Group - Sandra Harold/KS (9 replies)
6/2/2011 9:28:47 AM (4270 views)

National Settlement Services & Compliance Summit - CHARLENE  PERRY/MD
6/1/2011 2:54:31 PM (2581 views)

"Renter Nation? - Give Me a Break" - Leigh Attridge/MA
6/1/2011 1:59:41 PM (3152 views)

ROBO SIGNING NOT THE ONLY ISSUE -CHECK OUT THIS SHOW CAUSE ORDER - CHARLENE  PERRY/MD
6/1/2011 12:20:44 PM (2439 views)

ROBO SIGNING NOT THE ONLY ISSUE -CHECK OUT THIS SHOW CAUSE ORDER - CHARLENE  PERRY/MD
6/1/2011 12:18:38 PM (2672 views)

[+] DelShah Capital - Ron Neeley/TN (1 reply)
6/1/2011 11:55:53 AM (3090 views)


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